Is EXC (Exelon Corporation) Halal or Haram?

Based on our AAOIFI-standard shariah screening, EXC is classified as Doubtful. It passed 3 of 4 compliance screens. Some scholars may permit investing with income purification, while others advise avoiding it. We recommend consulting a qualified Islamic scholar before investing in EXC.

Exelon Corporation is a major North American utility holding company that generates, delivers, and markets energy across the United States and Canada. The company operates a diverse mix of power generation facilities, including nuclear, wind, solar, and natural gas, serving both wholesale and retail customers. For Muslim investors, EXC currently holds a Doubtful status based on AAOIFI screening standards. While its core business of providing electricity and natural gas easily passes the sector screens, the company's financial structure prevents it from being fully shariah-compliant at this time. The primary concern from an Islamic finance perspective is Exelon's heavy reliance on interest-bearing debt. The company's debt-to-market capitalization ratio is exceptionally high at 105.5%, which drastically violates the 33% maximum threshold allowed for halal investments, overshadowing its excellent 0.00% interest income ratio. Since utility companies often carry high debt loads to fund massive infrastructure projects, Muslim investors should monitor Exelon's balance sheet for significant debt reduction. Until the debt ratio falls below the 33% threshold, conservative halal investors should look for alternative utility stocks. Exelon Corporation operates in the Utilities sector under the Regulated Electric industry and is headquartered in Chicago, IL, US. The company is led by CEO Calvin G. Butler Jr. and employs approximately 20,000 people.

EXC was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. EXC passed 3 of these 4 screens.

EXC was last screened on 2026-04-29. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.